#Crypto news


Bitcoin rebounds after a wild weekend that took it below $32,000

The price of Bitcoin rebounded Monday after plummeting to less than $32,000 on Sunday. Bitcoin was up around 13% at $37,937.21 in the 24 hours leading up to 9:30 a.m. ET, according to CoinDesk. Ether rose from less than $1,800 on Sunday to over $2,400 on Monday. The crypto market...
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Robert Shiller: 'Wild West' mentality is gripping housing, stocks and crypto

Nobel prize-winning economist Robert Shiller is worried a bubble is forming in some of the market's hottest trades. He's notably concerned about housing, stocks and cryptocurrencies, where he sees a "Wild West" mentality among investors. "I haven't done that in print. I've been saying that," the Yale University professor told...
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Bitcoin resumes sell-off over weekend, falls below $32,000

The bitcoin sell-off continued Sunday following a roller-coaster week of trading. Bitcoin fell roughly 16% to $31,772.43 by 12:27 p.m. ET, according to Coin Metrics data. Bitcoin on Wednesday plunged more than 30% at one point to nearly $30,000, its lowest price since late January. Chinese authorities and the U.S....
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Bitcoin, Ether Bounce After Disastrous Week for Crypto Market

Demand from wealthy investors looks to have brought relief to the battered cryptocurrencies. “Crypto funds, macro funds, opportunistic venture capitalists are beginning to buy this dip in BTC, ETH as well as blue-chip DeFi by staggering limit orders and running longer time-weighted average prices,” crypto financial services provider Amber Group tweeted early Monday.

Vitalik: Why Elon Musk's plan for scaling crypto 10x is ‘fundamentally flawed’

Ethereum co-founder Vitalik Buterin has posted a lengthy paper on the limits to blockchain scalability, criticizing claims made by Tesla's CEO, Elon Musk. The article, published to Buterin’s personal blog on May 23, emphasizes the trade-off between decentralization and scalability in architecting blockchain networks. The article comes in response to Elon Musk’s May 15 tweet asserting that Dogecoin will emerge as the leading chain if it moves to increase its block size by 900%:
New York City, NYCoinDesk

Crypto Long & Short: Crypto Markets Are Volatile Because They’re Free

There are few things more emotional, contentious and misunderstood than the concept of freedom. It means different things to different people and spans a wide ideological spectrum from fundamental human right to hard-won privilege, with some darker tones of “threat” adding nuance to the discourse. Bitcoin, fiercely embraced by libertarians,...
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Cryptocurrencies bounce back after Sunday plunge

Cryptocurrencies rebounded on Monday, reclaiming ground lost during a bout of weekend selling that was fuelled by further signs of a Chinese crackdown on the emerging sector. Bitcoin was last up 8.8% to $37,766, erasing losses of 7.5% from a day earlier but still down by more than 40% from last month's record high.
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CBS News

Why is the price of bitcoin and other cryptocurrencies falling?

Although the price of bitcoin has partly rebounded after last week's rout, the digital currrency remains well off its April 13 high of nearly $65,000. In early trading on Monday bitcoin fetched $38,477, up 12% from the previous day, according to Coindesk.com. The extreme volatility that has marked bitcoin's emergence...
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Bitcoin down almost 50% from year's high

Bitcoin fell 13% on Sunday after the world's biggest and best-known cryptocurrency suffered another sell-off that left it down nearly 50% from the year's high. Bitcoin fell to $32,601 at 1800 GMT (2 p.m. ET), losing $4,899.54 from its previous close. It hit a high for the year of $64,895.22 on April 14.

Stocks could be volatile in week ahead amid turbulence from cryptocurrency

The plunge in bitcoin helped sour the mood for all risk assets, though the tech sector eked out a small gain for the past week. The Fed's preferred inflation measure, the personal consumption expenditures price index, will be released Friday. That report could affect the market if the number is hot.
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China bans financial, payment institutions from cryptocurrency business

China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading. Under the ban, such institutions, including banks and online payments channels, must not offer clients any service involving cryptocurrency, such as registration, trading, clearing and settlement, three industry...